A new report commissioned by Suncorp reveals the insurer will stimulate the Queensland economy to the tune of $1.2 billion over a 10-year period through restoration and recovery work from this year’s natural disasters.

The Road to Recovery report, by Deloitte Access Economics, says Suncorp has created almost 3700 new jobs in the state and that 93% of the repair and rebuilding activities authorised by Suncorp have been carried out by local contractors, driven by the insurer’s local purchasing policy.

The report follows the recent Q3 Deloitte Access Economics Business Outlook which highlighted the beginning of a big rebound in Queensland growth, boosted by flood recovery expenditure and a surge in engineering work.

Suncorp Personal Insurance CEO Mark Milliner says the report was commissioned as part of a detailed review into the performance of the business following last summer’s events.

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